Thread regarding Wells Fargo & Co. layoffs

Who even knows about the area differentials any more? None of us even know where we are in salary ranges or bonuses. It's all a cr-p shoot. Everything must remain secret to keep us down on our level!!!!

you are confusing absolute cost with changes in cost.

Area differentials aren't about inflation or changes in cost. they are about the fundamental absolute difference in prices of things in different areas of the country.

everyone feels shafted and poorer the past year from inflation.

But if you think that living in charlotte costs as much as NY - you are mistaken. The official area differential is 20%, and it costs probably 50-100% more to live the same lifestyle (housing, food, auto, etc) in NYC as in charlotte.

Cost of living. You ever hear of home eating oil and something called Ever Source?

The area differentials are based on salaries int he market. NYC and SFO are going to be zone 0 and the higher salaries. I think the major Hub cities are generally 2-- PHX, MSP, CLT

There was a time when we were not supposed to be hiring in zone zero (like NYC). That of course changed when some new leaders came in (even before CS, and SVB) so new execs come in and hire their buddies in NYC and absurd salaries.

The Area Differential is not directly related to cost of living. It's about offering competitive wages in each market. If other companies in that market are offering $X for a particular job, the Bank needs to match or at least be close.

Just go to the HR Services site and search Area Differentials. First result is for……”Area Differentials”. There is a link to Excel Spreadsheet that shows all the state/city combos for each differential.

Here is how WF calculates pay differential:

Zone 0 = High % of homeless
Zone 1 = Destinations for Silicon Valley expats
Zone 2 = Hipster towns with less than ideal weather
Zone 3 = Please don't let my car breakdown here, please don't let my car breakdown here

@wqi - Nah, no you didn’t.

Equality?!?! Bruh, this is America. Life ain't far and people aren't equal. You want a socialist system where all the losers get paid equally!?! Move to Venezuela, you communist.

I worked there for years and did way more work than 90% of my peers and got the same salary, but more bonus. I don't wanna hear about your woes, Gilligan!

There used to be a form you could use to look up cities and see the area differential. My guess is because they classify certain suburbs differently than the downtown area.

unlike the federal government when it comes to tax brackets most corporations have some type of area differential for pay because of cost of living differences across the country. $100k in SF just doesn't go as far as $100K in DSM. Our costs are going up just as much as yours.amd while it is my choice to live in a high cost area even with area diffential it still isn't enough especially when it comes to housing.